About three months after Ironton City Council approved the dissolution of the Ironton Port Authority, some city leaders are still seeking answers as to the status of the economic development group’s assets.

At a meeting Thursday, which could reasonably be described as heated at times, IPA officials Paul Woods and Bill Dickens fielded questions from the finance committee — a public body that consists of councilmen Kevin Waldo, Mike Lutz and Aaron Bollinger — about the IPA’s assets and liabilities that include cash, property and recent contracts.

According to a breakdown provided by Woods, the IPA transferred $347,354 in cash to the Lawrence Economic Development Corporation, the business arm of the new iteration of the Lawrence County Port Authority.

Woods said the cash would only be applied to future projects in Ironton.

But what seemed to be at issue wasn’t the cash in the bank.

Initial tension rose when Waldo questioned the IPA members about the sale of property in the South Ironton Industrial Park to someone other than exsisting businesses.

Waldo said the person who bought the property had not brought any jobs to Ironton.

Also at issue was the building and property being leased by Aluminastics in the industrial park.

Lutz questioned whether any work was going on at the site.

“I’ve driven by Alumninastics about 50 times now, and I still see nothing other than a trailer and a guy living in a trailer,” Lutz said. “Does he do this stuff at night?”

Dickens said, during the summer, some work is done at night due to heat. Dickens also said he has seen three or four people working there.

The business was on a 30-day lease but it was renewed for a three-year period about two months ago.

“We renewed the lease after I expressed where I knew somebody that would bring 20 to 30 jobs in there,” Lutz said. “And we renewed the lease for three people.”

“I don’t recall you telling us anything about 20 to 30 jobs,” Woods countered.

Waldo said concerns about the property have been brought up several times in finance and council meetings.

“We’ve all expressed our great disdain and disillusionment with the Aluminastics project,” Waldo said.

Woods said Aluminastics pays $736 per month in rent, which now goes into an escrow account at the LEDC and is to be used for Ironton projects.

Another point of contention for members of the finance committee was the fact that the IPA entered into several contracts with people or organizations after the officials knew the body was going to be dissolved.

One of the contracts was with Katrina Keith, the city’s benefits specialist and the IPA’s secretary, to pay her $6,000. The contract began June 1.

“It looks like it began June 1, 2013, and technically you were going to be terminated as far as existence on June 30, 2013,” Waldo said. “Twenty-nine days before you were terminated, knowing you were going to be terminated, you created a contract position with a person that is already employed by the city. … It just seems unusual knowing that you were not going to have any authority to do things, all the way back in April. …”

“This was negotiated and gone through with Dr. (Bill) Dingus (LEDC executive director) in our conversations about this dissolution,” Woods said.

The IPA also recently entered into a contract with Mitzi Sinnott for $8,000 for grant writing. The contract expires June 30, 2014.

Lutz requested that Dingus come to the next finance committee meeting.

Waldo also took issue with IPA’s agreement with the Friends of Ironton to allow them to use the former Brammer property — a strip of land west of Center Street Landing on the riverfront — for camping and parking during special events.

“Before June 30, you agreed with the Friends of Ironton to allow them to use the riverfront property to camp and park, right?” Waldo asked. “I don’t guess you asked anyone on council or the mayor’s office for any authority to do that?”

“No sir, it’s our property,” Woods replied.

Bollinger also took issue with the contracts.

“In looking at this, the only thing that I have a real issue with is wondering why, when this city council chose to have a date to abolish the Ironton Port Authority, that so many contracts were entered into. That’s the big thing I have a problem with,” Bollinger said.

“It proved to be a much larger job than I think anyone thought, to wind down,” Dickens said. “The more you dug into it, the more items that surfaced.”

Bollinger also asked when the IPA would be officially dissolved. As per the ordinance passed by council in April, the IPA cannot be dissolved until all assets are transferred.

“Next week,” Woods answered. “Katrina (Keith) is in Columbus doing some kind of city work or it might have been done today.”

Woods also said one check was left to clear so the IPA’s bank account could be closed.

In addition to the more than $347,300 in cash, the IPA also transferred as assets unsold land in the industrial park, three lots in the Bellemont Subdivision, the former Brammer property on the riverfront and the IPA’s interest in the cleanup of the former Tiger Metals property. When the former Armory is sold to the group developing the Ninth Street project, about $100,000 will be added to the assets, Woods said.

Mayor Rich Blankenship added that the IPA pledged to match funds for a marina on the riverfront. The city is able to secure a $630,000 grant if it can provide matching funds of $212,000.

“They (IPA) have pledged that ($212.000), which we are very thankful for that,” Blankenship said. “That gets one stressful situation off the city’s back.”

At Thursday’s county commission meeting, four members were appointed to the Lawrence County Port Authority to represent Ironton — Woods, Michael Gleichauf, Tim Rist and Mike McKee.

Dickens will not join the new board, but said he was proud of what the IPA accomplished.

“That fact that we’ve got this amount of money to hand off to put into Ironton projects, and I think the Ro-Na is a wonderful project to put it into,” Dickens said. “I’m very proud of the Bellemont Subdivision and the way it has played out precisely as designed, to keep young families living in Ironton. Most of all, I think the potential is in the development of the riverfront. If Ironton has a future, in my opinion, a bright future, it is through the development of that property.”